HANSOH PHARMA(03692)2024-04-29 13:43Financial Performance - The company's revenue for 2023 reached RMB 10,103.8 million, an increase from RMB 9,382.4 million in 2022, representing a growth of approximately 7.7%[15]. - The net profit for 2023 was RMB 3,277.5 million, up from RMB 2,583.7 million in 2022, indicating a growth of about 27%[15]. - Earnings per share were approximately RMB 0.55, reflecting a year-on-year increase of about 26.6%[18]. - The total comprehensive income for the year reached RMB 3,705,424 thousand in 2023, compared to RMB 3,216,633 thousand in 2022, reflecting an increase of about 15.2%[155]. - The company reported a total comprehensive income of RMB 3,705,424 thousand for 2023, compared to RMB 3,216,633 thousand in 2022, reflecting overall financial health[152]. Sales and Revenue Composition - The company achieved sales revenue of approximately RMB 6.865 billion from innovative drugs and collaborative products, accounting for about 67.9% of total revenue, driving sustainable growth[3]. - Revenue from the oncology segment reached approximately RMB 6.169 billion, accounting for about 61.0% of total revenue[19]. - The anti-infection segment generated revenue of approximately RMB 1.269 billion, representing about 12.6% of total revenue[19]. - The central nervous system disease segment recorded revenue of approximately RMB 1.367 billion, accounting for about 13.5% of total revenue[19]. - The metabolic and other segments achieved revenue of approximately RMB 1.299 billion, making up about 12.9% of total revenue[19]. Research and Development - The company has over 30 innovative drug projects in various therapeutic areas, with several products currently in critical registration clinical trials[16]. - The company's R&D expenses for 2023 were RMB 2,097.0 million, compared to RMB 1,693.3 million in 2022, reflecting a commitment to innovation[15]. - The company has launched eight innovative drugs into clinical trials for the first time in 2023, targeting various conditions including kidney disease and depression[30]. - The company aims to continue enhancing innovation and accelerating the commercialization of research and development outcomes to meet unmet medical needs[45]. - The company is committed to research and development in innovative drugs, leveraging the expertise of its senior management team[137]. Clinical Trials and Approvals - Six new products were approved for market launch during the reporting period, including one innovative drug with two approved indications[3]. - The company received clinical trial approval for the innovative drug HS-10390, intended for treating focal segmental glomerulosclerosis and IgA nephropathy[4]. - The innovative drug HS-10506, aimed at treating depression and insomnia, received clinical trial approval in May 2023[5]. - The innovative drug HS-10518, intended for treating endometriosis-related pain, received clinical trial approval in June 2023[5]. - The company has submitted 23 new drug applications and obtained clinical approvals for ten innovative drugs during the reporting period[3]. Corporate Governance - The company is committed to high standards of corporate governance to protect shareholder interests and enhance corporate value[46]. - The board consists of three executive directors and three independent non-executive directors[48]. - The board has established five specialized committees, including the Audit Committee and the Remuneration Committee, to oversee specific aspects of the company's affairs[48]. - The company has implemented a three-year service contract for each executive director and a three-year appointment letter for each independent non-executive director[54]. - The company has established appropriate liability insurance for directors, which is reviewed annually[48]. Environmental, Social, and Governance (ESG) - The company was rated AA in the latest MSCI ESG rating report and ranked in the top 1% of the industry in the S&P Global Sustainability Yearbook 2023[7]. - The company aims to achieve carbon neutrality by 2055 and has enhanced its 2030 environmental goals, including quantitative targets for energy savings and pollutant reduction[38]. - The company won several awards, including the China Patent Gold Award for its innovative drug Amatinib and the 2023 ESG Corporate Award Gold Medal from The Asset[38]. - The company has a strong focus on environmental, social, and governance (ESG) initiatives, with Dr. Lu leading the ESG committee[132]. - The Environmental, Social, and Governance Committee held two meetings to review and identify key ESG issues and to develop response measures for climate change risks[64]. Shareholder Information - The company reported a proposed final dividend of HKD 0.1422 per share for the year ending December 31, 2023, compared to HKD 0.05 in 2022, resulting in a total annual dividend of HKD 0.2129 per share[82]. - The company has a distributable reserve of RMB 14,095,522,000 as of December 31, 2023, compared to RMB 13,931,541,000 in 2022[93]. - The company will suspend share transfer registration from June 7 to June 13, 2024, to determine the rights of shareholders attending the annual general meeting[85]. - The company will also suspend share transfer registration from June 21 to June 25, 2024, to determine eligibility for the proposed final dividend[85]. - The company has maintained a minimum public float of 16.21% as accepted by the stock exchange[114]. Financial Position - The total assets of the company as of 2023 amounted to RMB 33,039.1 million, compared to RMB 30,001.9 million in 2022, marking an increase of approximately 6.8%[15]. - The total liabilities of the company in 2023 were RMB 7,244.3 million, slightly down from RMB 7,354.9 million in 2022[15]. - The company's asset-liability ratio was approximately 21.9% as of December 31, 2023, down from 24.5% a year earlier[40]. - Cash and bank balances reached RMB 22,434,691 thousand, significantly higher than RMB 17,615,274 thousand in 2022, indicating strong liquidity[153]. - The total equity attributable to equity holders of the parent increased to RMB 25,794,773 thousand in 2023 from RMB 22,646,944 thousand in 2022, demonstrating strong shareholder value growth[154]. Investments and Financing - The company issued a total of 20,304,400 restricted share units during the reporting period, with 52,290,594 units available for future grants as of December 31, 2023[44]. - The company issued 595.65 million allocated primarily for R&D expenses, facility upgrades, and general corporate purposes[88]. - The company raised approximately HKD 3.477 billion from a placement of 130,380,000 shares at HKD 26.75 per share, with HKD 934.17 million already utilized for R&D projects as of December 31, 2023[90]. - The company incurred approximately RMB 229 million in business development (BD) project expenses, while receiving a BD licensing fee of USD 85 million from GSK[33]. - The company entered into licensing agreements with GSK for HS-20089 and HS-20093, receiving upfront payments of USD 85 million and USD 185 million respectively, with potential milestone payments of up to USD 1.485 billion and USD 1.525 billion[34].